Pictured above: A view of downtown Miami from the North.
Downtown Miami has gone from being a ghost town to a city that boasts award winning skyscrapers and lifestyle not unlike that of New York city. Single family homes are almost non-existent in downtown Miami, and condo living is à la mode. For this article the question, “what is the average ratio of list price vs. sale price in downtown Miami” was posed.
A survey of condos that sold in Downtown Miami in September 2016 (October 2016 not fully available yet), showed that the average ratio of the list price to the sale price was 94%. The median value was just over 95%, at 95.23%. The lowest ratio of list price vs. sale price was 84.6% and the highest was 113.5%, with one condo at the Emerald on Brickell selling for $50K more than the list price. The average price per square foot was $354.00.
If you would like to see a list of condos for sale in Miami click here.